Assam Abhinandan Education Loan Subsidy Scheme: A Boost for Higher Education
Assam Abhinandan Education Loan Subsidy Scheme is a ray of hope for students who aspire to pursue higher education. The scheme aims to provide financial assistance to students who wish to pursue higher education in India or abroad. The scheme was launched by the Government of Assam to encourage students to pursue higher education without worrying about the financial burden. In this blog, we will discuss the objectives, eligibility criteria, benefits, required documents, and the procedure to apply for the Assam Abhinandan Education Loan Subsidy Scheme.
Introduction Of the Abhinandan Education Loan Subsidy Scheme
Assam Abhinandan Education Loan Subsidy Scheme is a remarkable initiative by the Government of Assam to support the students of the state in achieving their higher education goals. The scheme was launched in 2017 to provide financial assistance to those students who aspire to pursue higher education but face financial hardship. The primary objective of this scheme is to ensure that no student is denied the opportunity to pursue their dreams of higher education due to financial difficulties. Through this scheme, the government aims to empower the youth of Assam by providing them with access to quality education and better career opportunities.
Objectives
The Assam Abhinandan Education Loan Subsidy Scheme has been launched with the following objectives:
- To encourage students to pursue higher education without worrying about the financial burden.
- To ensure that students from economically weaker sections can avail of education loans at a lower interest rate.
- To promote higher education in the state of Assam.
- To enable students to pursue higher education in India or abroad without financial constraints.
Full Overview Of The Assam Student Credit Card Scheme
| Name of Scheme | Assam Abhinandan Education Loan Subsidy Scheme |
|---|---|
| Announcement | Govt of Assam |
| State Name | Assam |
| Implementation | Updated on 2023 |
| Objectives | To provide financial assistance to students pursuing higher education |
| Incentive | Up to 20% interest subsidy on education loans taken by the student loan subsidy up to rs 50000 |
| Beneficiaries | Students of Assam who have taken education loans from scheduled banks |
| Application | Always open |
| Process | Online application and verification |
| Official Website | https://www.assam.gov.in/schemes/details/abhinandan-education-loan-subsidy-scheme |
Eligibility Criteria
To avail of the benefits of the Assam Abhinandan Education Loan Subsidy Scheme, the following eligibility criteria must be fulfilled:
- The student must be a permanent resident of Assam.
- The student must have secured admission to a recognized institution in India or abroad for a course of study.
- The student must have availed of an education loan from a scheduled commercial bank or a regional rural bank.
- The annual family income of the student must not exceed Rs. 4 lakhs per annum.
Benefits
The Assam Abhinandan Education Loan Subsidy Scheme offers the following benefits:
- A subsidy of Rs 50,000 will be provided to students by the Government of Assam on education loans up to Rs 1 lakh.
- In this scheme, all the applicant students can apply for the subsidy by paying 25% of their loans.
- Under this scheme, the subsidy can be obtained from commercial banks like Federal Bank and HDFC and regional rural banks like Assam Rural Regional Bank as a form of loan.
Required Documents
The following documents are required to avail of the benefits of the Assam Abhinandan Education Loan Subsidy Scheme:
- Residence proof of the student.
- Income certificate of the family.
- Admission letter from the recognized institution.
- Education loan sanction letter from the scheduled commercial bank or regional rural bank.
- Other relevant documents as per the guidelines of the scheme.
How to Apply For Assam Abhinandan Education Loan Subsidy Scheme
To apply for the Assam Abhinandan Education Loan Subsidy Scheme, you can visit your nearest bank or CSC (Common Service Center) to get more information on the application process. Alternatively, you can also visit the Finance Department of Assam for assistance.
It’s important to note that the online application process for this scheme has been closed, so you will need to apply in person. The bank or CSC will guide you through the application process and provide you with all the necessary information and documents required for submission.
| OFFICIAL WEBSITE | CLICK HERE |
| ASSAM GOVT ALL SCHEMES | CLICK HERE |
Conclusion
The Assam Abhinandan Education Loan Subsidy Scheme is a great initiative by the Government of Assam to encourage higher education. The scheme aims to provide financial assistance to students who wish to pursue higher education in India or abroad. The scheme offers many benefits, including an interest subsidy of up to 20% of the interest payable on the education loan. The scheme covers all courses of study, including professional courses, vocational courses, and technical courses. The eligibility criteria for the scheme are also reasonable, ensuring that students from economically weaker sections can avail of the benefits of the scheme. Overall, the scheme is a step towards the betterment of the education system in the state of Assam.